The National Australia Bank Ltd (ASX: NAB) share price closed at $29.19 yesterday, experiencing a 0.44% decrease.
Financial Calendar Highlights for 2024
As 2023 comes to an end, ASX 200 companies are unveiling their financial calendars for 2024. For NAB investors, key dates revolve around significant announcements, particularly those related to dividends. In 2024, these pivotal dates are May 2 and November 7.
Dividend Forecast Analysis
For insight into potential dividend performance, it’s worth exploring consensus forecasts for FY24. We recently examined which ASX financial share is expected to deliver the best dividend yield in the upcoming fiscal year.
Analyst Views on NAB in 2024:
Goldman Sachs Perspective
Goldman Sachs, a top broker, holds a bullish outlook on NAB, rating it as a buy. The firm has set a 12-month share price target of $30.52. Goldman Sachs highlights NAB’s strength in business banking, anticipating a competitive edge over its peers in 2024. The expectation is for higher commercial volumes compared to housing volumes in the new year.
UBS Contrarian View
Contrastingly, UBS is less optimistic about NAB’s prospects in 2024, assigning it a sell rating with a share price target of $26. UBS believes that NAB may have reached its peak earnings and could face challenges, especially in mortgages, with lower-than-system lending growth over the next 12 months. The broker also points to downside risks such as increased competition in business banking, higher exposure to the business credit cycle, and the potential for rising costs due to inflation.
Investor Guidance
Investors navigating the NAB landscape in 2024 should consider these varying perspectives from major brokers, weighing the potential opportunities and risks outlined by Goldman Sachs and UBS.